April 23rd, 2026
Newsletter 213 BNFIX PICH
May 2026
Dear all,
We have now reached the fifth newsletter of the year, the May edition, which features on its front page an interview with Ana García, President of the Commission on Economics and Sustainability of the Association of Economists of Catalonia. She offers valuable insights on the current times of uncertainty and confusion stemming from the conflict in the Middle East, as well as on the future of global energy markets.
The newsletter continues with an article addressing the importance of planning ahead—carefully and in an orderly manner—the succession or sale of a business, along with updates on court rulings that establish criteria on workplace accidents during remote work and on the statute of limitations in secondary tax liability. We also revisit key aspects of the 2025 Personal Income Tax campaign and the Corporate Tax campaign.
The calendar of public holidays in Catalonia for 2027, together with the Agenda and Publications sections, complete this issue, which, once again, we hope you will find of interest.
María José Moragas · mj.moragas@pich.bnfix.com
Lawyer, partner, Head of the LegalDepartment – BNFIX PICH Tax & Legal
Tax, Labour and Legal Insights
▶️ Video
Geopolitics and energy: global impact and key insights to understand the new landscape
Video interview with Ana García Molina, President of the Commission on Economics and Sustainability of the Association of Economists of Catalonia:
Uncertainty. Confusing times. Despite the escalation of tensions in the Middle East—following developments already seen last year—inflation remains relatively moderate, while energy futures markets continue to anticipate a rapid resolution of the conflict, somewhat at odds with current realities.
In this interview with Valentí Pich, Ana García Molina explains how geopolitical tensions are having indirect and uneven effects on energy markets, depending on each country’s level of dependency. In Spain, diversified energy sources help cushion the impact, although global uncertainty keeps economic forecasts under constant review.
“The Strait of Hormuz conflict has disrupted supply chains for many companies. Returning to stability will take time.”
The conversation also explores price volatility, the role of renewable energy, and European measures to strengthen energy sovereignty, including coordination and public-private collaboration. Even in the event of a swift resolution, recovery is expected to be gradual due to ongoing supply chain disruptions.
/ Business succession or sale: two sides of the same decision
Business succession and the potential sale of a company are often two sides of the same asset-related decision. Both require prior, rigorous planning, as the decisions made today will shape the company’s future value, the tax implications of the transaction, and the legal certainty of the business—and, where applicable, family—assets.
/ The Supreme Court sets criteria on workplace accidents during remote work
A recent ruling by the Supreme Court regarding a workplace accident that occurred during a flexible remote working day confirms that employee protection is not reduced when working from home and places the focus on the timing of the incident, in this case a heart attack. The absence of a sufficiently detailed working time record to prove that it took place during a break led to the conclusion that it occurred during working hours.
/ Official calendar of public holidays in Catalonia for 2027 published
The Official Gazette of the Government of Catalonia (DOGC) published on April 1 the Order of March 25, which establishes the calendar of public holidays in Catalonia for 2027.
In addition to these dates, two local public holidays, paid and non-recoverable, must be set by each municipality. These will be announced in due course.
/ The Supreme Court sets criteria on secondary liability in insolvency proceedings
A recent Supreme Court ruling has established new criteria regarding the statute of limitations for assigning secondary tax liability in insolvency proceedings. According to the Court, this liability must be determined at the moment when the insolvency of the main debtor is objectively confirmed.
/ Corporate Income Tax 2025: What should be considered to optimize the year-end closing?
With the arrival of summer comes a key milestone for many companies: the year-end closing and preparation of the 2025 Corporate Income Tax return.
Beyond being a formal obligation, it also represents an opportunity to pause, analyze, and make decisions that can have a real impact on a company’s tax position.
▶️ Video
2025 Personal Income Tax Campaign: deadlines and key aspects
In this short video, Alba Pich, economist in the Tax Department at BNFIX Pich, reviews the main deadlines and new developments of the 2025 Personal Income Tax Campaign.
She also highlights several points requiring special attention, as well as the deadlines applicable to the Large Companies Solidarity Tax.
Agenda and Collaborations
/ Minister Jordi Hereu at the “Dean’s Talks” of the Association of Economists of Catalonia
Our partner Valentí Pich hosted the “Dean’s Talks” session on April 24, organized by the Association of Economists of Catalonia and led by its dean, Carlos Puig de Travy, on this occasion featuring the Minister of Industry, Jordi Hereu. During the event, the minister shared his growth outlook for industry and tourism in the current geopolitical context marked by the conflict in the Middle East, and advocated—particularly in tourism—for greater diversification and reduced seasonality.
From left to right: Valentí Pich, José Montilla, Ariadna Belver, Jordi Hereu and Carlos Puig de Travy.
For his part, Carlos Puig de Travy highlighted the resilience of the Spanish economy, while warning that the effects of the current situation will persist over time.
You can watch the full recording of the event HERE.
/ CILEA Meeting: ‘The EU–Mercosur Trade Agreement: Benefits, Challenges and Opportunities’
As you know, the provisional application of the free trade agreement between the European Union and Mercosur began on May 1. This agreement involves the 27 EU Member States and the South American countries Brazil, Argentina, Uruguay and Paraguay, among other associated partners, creating one of the largest trade areas in the world, with over 700 million people.
Given the significance of this agreement, we invite you to read HERE a summary of the presentation by Antonio Bonet, President of the Spanish Exporters and Investors Club, delivered during the online meeting held on May 14 on EU–Mercosur trade relations. The session was moderated by Remy Angel Terceros, Vice-President of the committee, and introduced by Valentí Pich in his capacity as President of the Latin America–Europe Integration Committee (CILEA).
Publications & Articles
/ “Absenteeism Report. Fourth Quarter 2025”
Randstad Research
A report analyzing workplace absenteeism, a growing concern, and its impact on the Spanish labor market in the fourth quarter of 2025.
The sectoral analysis reveals significant disparities: while some sectors show relatively low levels—below 4.4%—others face serious absenteeism issues, with rates exceeding 9%.
By region, the Canary Islands record the highest absenteeism rate (9.1%), followed by Cantabria (8.9%) and theBasque Country (8.8%). Catalonia, at 7.1%, remains around the average.
The article HERE
